NAIROBI, Kenya, May 29 – Kericho-based Kabianga Dairy Limited has been placed under administration, meaning that an insolvency practitioner has been picked to manage its operations amid rescue plans.
I & M Bank Limited has picked Swaroop Rao Ponangipalli and P.V. Rao as joint administrators.
The Insolvency Act, 2015, defines insolvency as a state where an entity is unable to meet its financial obligations.
Under Section 514(1)(b) of the Act, a creditor can seek to wind up a company if it is unable to pay its debts.
“WE I & M Bank Limited, of P.O. Box 30238-00100, Nairobi in the Republic of Kenya, give notice that (1) SWAROOP RAO PONANGIPALLI and (2) P.V. RAO, both of P.O. Box 51-00623, Nairobi in the Republic Kenya have been appointed as Joint Administrators of the whole property of Kabianga Dairy Limited, with effect from the 30th April, 2025, in accordance with the provisions of the Part VI of the Insolvency Act,” the notice read.
This comes at a time when other firms are filing for liquidations amid economic challenges.
For example, Bluejay Limited, Betway’s parent company, recently filed a petition for liquidation at the Milimani Law Courts Commercial and Tax Division.
The company, registered under number CPR/2015/206545, filed the petition on September 30, 2024, citing provisions under the Insolvency Act, 2015.
